Friday 10th December 2021
Doordash takes it
Delivery service Flink collects $ 750 million
Investors are queuing up for the world’s booming lightning delivery services – even if they usually write high losses. Doordash is not deterred either, the US food delivery service is investing 750 million dollars in the German startup Flink.
The US food delivery service Doordash is expanding its mainstay in Europe with its participation in the German food delivery service Flink. $ 750 million had been collected, said Flink. Flink is now valued at almost three billion dollars – similar to its Berlin competitor Gorillas.
New on board in the financing round was the industry leader from the USA, who only took over Finnish competitor Wolt for seven billion euros in November and thus expanded to Europe. Mubadala Capital participated again in the financing round at Flink. In addition, other investors have invested money, it said without any specific information.
Flink has been working with the Rewe Group on purchasing goods since April, which, according to Rewe boss Lionel Souque, has proven to be “correct and successful”. Flink was only launched a year ago. According to the company, up to ten million customers in more than 60 cities are now reached with a range of up to 2500 products.
Flink describes itself as the market leader in Germany and the Netherlands. Rewe competitor Edeka is also cooperating with a new delivery service, the Picnic delivery agent, which has been represented in North Rhine-Westphalia up to now. However, it relies on a different model – it delivers food ordered online to consumers at fixed delivery times.
Investors are queuing up for the world’s booming lightning delivery services right now. During the Corona crisis, people around the world took pleasure in ordering groceries online and having them delivered in the shortest possible time – usually by bicycle courier.
Accordingly, more and more startups are bustling in the market. Among others, Flink, Getir and Jokr are active in Europe, as is the Berlin service Gorillas, which is represented in many countries and in which DoorDash competitor Delivery Hero is involved. What they all have in common is that they are expanding rapidly and usually write high losses.